Marsh & McLennan Analysts Slash Their Forecasts Following Q3 Earnings

Marsh & McLennan Companies Inc (NYSE:MMC) reported better-than-expected earnings for the third quarter on Thursday.

The company posted quarterly earnings of $1.85 per share which beat the analyst consensus estimate of $1.79 per share. The company reported quarterly sales of $6.351 billion which beat the analyst consensus estimate of $6.323 billion.

John Doyle, President and CEO, said: “Our third quarter results were solid and tracked with expectations. Overall, we generated 11% revenue growth, or 4% on an underlying basis, as well as 13% growth in adjusted operating income and 11% growth in adjusted EPS.”

Marsh & McLennan shares traded at $187.50 on Friday.

These analysts made changes to their price targets on Marsh & McLennan following earnings announcement.

• Keefe, Bruyette & Woods analyst Meyer Shields upgraded Marsh & McLennan from Underperform to Market Perform and lowered the price target from $209 to $191.
• Wells Fargo analyst Elyse Greenspan maintained Marsh & McLennan with an Equal-Weight rating and lowered the price target from $222 to $212.

Considering buying MMC stock? Here’s what analysts think:

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